One of the most important metrics to monitor to assess the overall health of a market is the inventory. Inventory, combined with absorption, will give you a good sense of whether home values are increasing, flat or in decline in a particular sub-market.
By keeping an eye on the available inventory in conjunction with pending contracts, you will be able to tell how aggressive to be with offers, counter-offers and pricing.
The charts below track available inventory and pending contracts to better understand what is happening in your marketplace.
All of Richmond City
Fan, Western Jackson Ward, VCU Monroe Campus
Scotts Addition, Willow Lawn, West Monument Ave
Downtown, MCV, Capital, CBD
Museum District, Byrd Park, Windsor Farms
CCV, U of R, Westhampton, Libbie/Grove
Semmes Ave, Forest Hill Ave
Forest Hill Ave, Western Southside
Northside, Bellevue, Ginter Park